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There are only small percentage of traders which get success in forex trading (currency trading) , reason due to little knowledge of trading concepts and little impatient leads to blow their account. There are some steps by which beginner traders can survive and make profit.
1. Learn candle sticks trading which are best in reading the chart and behaviour of trend from years ago.
2. Learn to draw trendlines, support lines and develop habit of drawing patterns on chart.
3. Do practice on demo account and make profit there.
4. Learn only 1-2 setups for trading.
5. There are two most successful setups called Bullish pin bar (Bullish Hammer) second Bearish pin bar (shooting star), trade these setups on daily chart with support and resistance.
6. Do trade in small quantity and trade only on good setups only, not doing anything also a profit then losing money on wrong setup.
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